GENERAL NEWS

Fuel prices to go up by 10% effective October 16 – COPEC

Published

2 years ago

10/14/2022

Lionel

Fuel prices to go up by 10% effective October 16 – COPEC

Prices of petroleum products are expected to see a rise again beginning Sunday, October 16 as part of the adjustments for the 2nd pricing window of this month.

Fuel prices across pumps within the country are projected to see an increase of an average of 10% for both petrol and diesel, according to the Chamber of Petroleum Consumers(COPEC).

From observed figures within the downstream industry and forex movements, COPEC anticipates an average price escalation of about 10.12% for both petrol and diesel based on the increase in the price of crude oil on the international market and the depreciation of the cedi.

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“Between the current window and the next window due, 16 Oct 2022, Crude oil price is observed to have seen an increase of 3.66% from $89.46 to $92.73 per Barrel, whilst the Dollar index has further gone up by about 4.08% from GHS10.21 to GHS10.627 per Dollar as per Government rate (Conservative figures) though actual market rates are quite higher currently,” COPEC observed.

The corresponding international processed Petroleum prices for the next window average as follows:

Petrol: $964.75/MT (up by 15.72%)
Diesel: $1,097.15/MT (up by 9.60%)

Internally, the projected average price of both Petrol and Diesel for the next window is expected to be GHS13.77/L, showing a price jump of 10.12% over the current Mean fuel Prices for both products across the various OMCs trading.

From observed data, Petrol, which is currently selling at an industry average of GHS11.06/L is likely to be sold at GHS12.38/L (11.88% higher) from 16 October 2022 whilst Diesel currently selling at an industry average of GHS13.95/L is likely to be sold at GHS15.16/L. (8.72% higher)

For LPG, the international price is estimated to hit $618.34/MT (up by 3.81%); the price of LPG is likely to go up by 5.04% to sell around GHS10.21/kg.

Considering no sudden jerks in Crude Oil pricing, that may lead to changes in Petrol, Diesel, and LPG Prices on the International market, the Mean Ex-pump prices are expected to be within the projected figures by +/-2% as indicated below:

Petrol: GHS12.12/L to GHS12.63/L
Diesel: GHS14.86/L to GHS15.46/L
LPG: GHS10.01/kg to GHS10.41/kg

COPEC in a statement, therefore, implored the petroleum service providers to be considerate of applying the full force of the indexes in their pricing.

It added: “We are without equivocation, mindful that, the projected figures are conservatively lower than what the actuals could be due to the continuous depreciation of the local currency.”

It further admonished: “Government to do whatever it deems necessary, to ensure an urgent stabilization of the cedi to the Dollar exchange rate to prevent pricing of petroleum products getting to an impending disaster as the effect of these steep increases in fuel prices cuts across all sectors of the local economy and to also further ensure some drastic reductions of some of the existing taxes and levies on Petroleum products to help ease the burden on consumers.”

Source: Ghana/Starrfm.com.gh/103.5 Fm

Related Topics:Chamber of Petroleum Consumers(COPEC)Petrol prize

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GENERAL NEWS

DEBUT ALBUM: Miriam Mandipira & The Soul Family

Published

1 week ago

07/16/2024

Lionel

DEBUT ALBUM by Miriam Mandipira & The Soul Family!
You’ve never heard a voice like Miriam Mandipira’s. Undeservedly, she doesn’t take credit for the power or presence she delivers. For Miriam, music is much more than just notes and words. It’s
magic. And faith. You can experience it LIVE and on the album, which is set to be released on September 1st.

She has been singing for as long as she can remember, growing up with her ears glued to the radio.

From the moment her school teacher asked her to sing in class, the rest has been history. From Africa to Denmark, from Book Café in Harare to Mojo Blues Bar and the big concert halls. From
Danish Radio Big Band to the Royal Theater. Music is music, and Miriam is the music.

“But it’s not about me when I sing. I’m just the instrument, and when I’m on stage with my band, I sing from a place that’s not about rules and technique but about emotions,” says the singer, who is
seriously trying her hand at songwriting – together with her Soul Family on the album “Ndiwe”, which means ‘you are the chosen one of my heart.’ The overall message is impossible to ignore
Love.

“Call me a soul singer, call me a jazz singer. I don’t care. Good music is good music, and I love interpreting other people’s songs and being inspired. At the same time, I think it’s great to try my
hand at creating and writing the songs myself – and with my friends in the Soul Family, I have found my place. They are my family, and the curiosity and respect we share are fantastic.”

You can experience that up close when Miriam & The Soul Family take the stage. The enthusiasm for music and communication is impossible to ignore and hear.

“I love to maintain the feeling of being a child. It’s an excitement and curiosity that keeps me going, and that’s why I’m so excited about every single concert – no matter how small or large it is.

Otherwise, I would never do it. This is not just a casual thing. This is a life, and everything means something,” says Miriam, who began her years in Denmark by jamming at Mojo Blues Bar, building a network.

Enjoy

ENTERTAINMENT

Bnoskka and Apprise Music Join Forces To Launch IP Zone Podcast

Published

2 months ago

05/27/2024

Lionel

Bnoskka, a leading creative arts business and intellectual property consultant, is excited to announce its collaboration with Apprise Music, a renowned music publishing and distribution company, to launch the IP Zone Podcast. Hosted by Bnoskka, the podcast is now streaming on YouTube, Spotify and all major streaming platforms.

IP Zone Podcast delves into the fascinating world of intellectual property, creativity, and innovation, featuring insightful conversations with industry experts, artists, and thought leaders. With a focus on the music and creative industries, the podcast explores the latest trends, challenges, and opportunities in intellectual property, copyright, and innovation.

“I am thrilled to partner with Apprise Music to bring IP Zone Podcast to the public,” said Bnoskka. “Our goal is to create an engaging and informative platform that sparks meaningful discussions and inspires creativity. We believe that intellectual property is at the heart of innovation, and we’re excited to share this journey with our audience.”

“Apprise Music is dedicated to empowering creatives and artists to protect and monetize their intellectual property,” said Mr. Michael Bamfo, CEO of Apprise Music. “We’re proud to collaborate with Bnoskka on IP Zone Podcast, and we look forward to sharing our expertise and insights with the creative community.”

Tune in to IP Zone Podcast on YouTube, Spotify, Apple Podcasts, Google Podcasts, and other popular streaming platforms.

Subscribe now and join the conversations.

Contact:
Mr. Michael Bamfo
Email: [email protected]
Phone: +233 24 502 4002

About Bnoskka:
Bnoskka is a creative arts business and intellectual property consultant dedicated to empowering creatives and businesses to protect, monetize, and grow their intellectual property.

About Apprise Music:
Apprise Music is a music publishing and distribution company committed to supporting artists and creatives in the music industry.